Digital Assets in the Vietnam’s Economy: Development Policy and Institutional Implications for International Cooperation

ERI FEB RAS	Issue's contents	RUS
	Regionalistica 2025 Volume 12 number 6 pages 52-68

Title of the article	Digital Assets in the Vietnam’s Economy: Development Policy and Institutional Implications for International Cooperation
Pages	52-68
Author	Kabir Liudmila Sergeyevna doctor of economics, professor of RAS, chief researcher State Academic University for the Humanities 26, Maronovskiy Lane, Moscow, Russia, 119049 This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-0665-8992
Abstract	This article analyzes Vietnam’s financial market, which is undergoing digital transformation. The relevance of the study stems from the need to inform decisions on developing the digital segment of the national financial market. The objective is to assess the current national policy for the digital transformation of Vietnam’s financial sector. A review of the main trends in the digitalization of the country’s financial sector at the current stage is provided. It is established that cryptoasset regulation is part of broader efforts shaping both the digital transformation of the financial sector and the digital transformation of society. The emerging regulatory system serves the goal of improving access to capital markets and institutional financing.
Code	339.97
DOI	10.14530/reg.2025.6.52
Keywords	digital transformation, financial system, financial market, digital financial assets, blockchain, cryptoassets, cryptocurrency, technological modernization
Download	2025-06.52.pdf
For citation	Kabir L.S. Digital Assets in the Vietnam’s Economy: Development Policy and Institutional Implications for International Cooperation. Regionalistica [Regionalistics]. 2025. Vol. 12. No. 6. Pp. 52–68. http://dx.doi.org/10.14530/reg.2025.6.52 (In Russian)
References	1. Aminova F.I., Proshina A.V. Issuance and Circulation Issues of Digital Financial Assets. Ekonomika i upravlenie: problemy resheniya [Economics and Management: Problems, Solutions]. 2024. Vol. 5. No. 6. Pp. 209–215. http://dx.doi.org/10.36871/ek.up.p.r.2024.06.05.029 (In Russian) 2. Anosova L.A., Yaskina G.S. Vietnam: History, Politics, Economics. Moscow, 2000. 390 p. (In Russian) 3. Vol’fovskii A.I. Features of the Digital Financial Assets Market Development and Their Role in Investment Proposals of Russian Corporations. Ekonomika: vchera, segodnya, zavtra = Economics: Yesterday, Today and Tomorrow. 2024. Vol. 14. No. 12А. Pp. 831–839. http://dx.doi.org/10.34670/AR.2024.81.69.088 (In Russian) 4. Zhironkin S.A., Safiullin L.N., Konovalova M.E., Kuzmina O.Y. Development of the Market of Digital Financial Assets in the Context of Ensuring Financial Sovereignty of Russia. Tsifrovaya ekonomika i innovatsii = Digital Economy and Innovations. 2024. No. 3. Pp. 29–40. http://dx.doi.org/10.18323/3034-2074-2024-3-58-3 (In Russian) 5. Ivanov O.B. Economic and Legal Mechanisms for the Use of Digital Financial Assets in the Russian and International Financial Markets. ETAP: Ekonomicheskaya Teoriya, Analiz, Praktika = ETAP: Economic Theory, Analysis, and Practice. 2024. No. 2. Pp. 7–30. http://dx.doi.org/10.24412/2071-6435-2024-2-7-30 (In Russian) 6. Ivleva E.S., Makarov M.Yu., Bobrov A.G. Development of the Circulation of Digital Financial Assets in the World in the Context of Digital Transformation. Ekonomika i upravleniye: nauchno-prakticheskiy zhurnal [Economics and Management: Scientific and Practical Journal]. 2024. Vol. 30. No. 3. Pp. 355–363. http://dx.doi.org/10.35854/1998-1627-2024-3-355-363 (In Russian) 7. Kolotov V.N. Vietnam’s Development Strategy in the Documents of the XIII Congress of the Communist Party of Vietnam. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2021. Vol. 5. No. 1. Pp. 30–51. http://dx.doi.org/10.24411/2618-9453-2021-10002 (In Russian) 8. Minasyan A.V. The Role of Financial Instruments for Managing Digital Financial Assets in the Financial Strategy of a Corporation. Ekonomika i upravlenie: problemy resheniya [Economics and Management: Problems, Solutions]. Vol. 29. No. 12. Pp. 139–147. http://dx.doi.org/10.36871/ek.up.p.r.2024.12.29.019 (In Russian) 9. Mitrofanov A.M., Muravyov N.S., Pokamestov I.E. Digital Financial Assets in the Financial Market of the Russian Federation. Vestnik Yevraziyskoy nauki = The Eurasian Scientific Journal. 2024. Vol. 16. No. s1. (In Russian) 10. Muzyka M.V. Using Digital Currencies and Digital Financial Assets As New Forms of Labor Remuneration. Trudy Instituta gosudarstva i prava RAN = Proceedings of the Institute of State and Law of the RAS. 2025. Vol. 20. No. 3. Pp. 148–162. http://dx.doi.org/10.35427/2073-4522-2025-20-3-muzyka (In Russian) 11. Novskaia N.S. Digital Financial Assets As a Means of Payment in the Framework of Foreign Economic Activity. Progressivnaya ekonomika [Progressive Economy]. 2025. No. 1. Pp. 210–220. http://dx.doi.org/10.54861/27131211_2025_1_210 (In Russian) 12. Tetyushin A.V. Risk Model for Interaction with Digital Financial Assets and Digital Currencies. Human Progress. 2024. Vol. 10. Issue 4. http://dx.doi.org/10.46320/2073-4506-2024-4a-26 (In Russian) 13. Tetyushin A.V. Development and Implementation of Reporting Principles in the Context of Digital Financial Assets and Digital Currencies. Human Progress. 2024. Vol. 10. Issue 5. http://dx.doi.org/10.46320/2073-4506-2024-5a-10 (In Russian) 14. Fforde A. Vietnamese Domestic Policy: Economic Strategy and the «Shift to Services». V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2022. Vol. 6. No. 2. Pp. 29–36. http://dx.doi.org/10.54631/VS.2022.62-109178 (In Russian) 15. Fforde A. Vietnam’s Servicisation Policy – A Case Study of «Post Hoc» Policy Development. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2024. Vol. 8. No. 4. Pp. 44–54. http://dx.doi.org/10.54631/VS.2024.84-643285 16. Nguyen Chien Thang, Dinh Le Hong Giang. The Vietnam – EAEU Free Trade Agreement (FTA): Performance Review and Strategic Outlook After a Decade. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2025. Vol. 9. No. 3. Pp. 45–56. http://dx.doi.org/10.54631/VS.2025.93-688166 17. Nguyen Manh Dung. Evaluation of Vietnam’s Science and Technology Human Resources in the Context of National Development Needs. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2025. Vol. 9. No. 1. Pp. 67–79. http://dx.doi.org/10.54631/VS.2025.91-677556 18. Nguyen Ngoc Son. Policies for Vietnam to Overcome the Middle-Income Trap in the Era of Economic Rise. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2025. Vol. 9. No. 2. Pp. 65–77. http://dx.doi.org/10.54631/VS.2025.92-685726 19. Nguyen Thi Minh Phuong. Determinants Influencing the Investment Decision of Large Firms in Vietnam. V’yetnamskiye issledovaniya = The Russian Journal of Vietnamese Studies. 2023. Vol. 7. No. 3-2. Pp. 28–38. http://dx.doi.org/10.54631/VS.2023.732-321797 20. Pastukhov E. Characteristics and Development Trends of the Digital Assets Segment in Modern Practice in Russia and Abroad. Journal of Corporate Finance Research. 2024. Vol. 18. No. 2. Pp. 42–55. https://doi.org/10.17323/j.jcfr.2073-0438.18.2.2024.42-55
Financing	The research was funded by the Russian Science Foundation (project No. 24-18-00618).
Date